Market Size of Nuclear Power Reactor Decommissioning Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.80 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nuclear Power Reactor Decommissioning Market Analysis
The global nuclear power reactor decommissioning market is estimated to reach USD 2027.49 million by the end of the current year, and it is projected to register a CAGR of 13.8% during the forecast period.
Although the market studied was moderately impacted by the COVID-19 pandemic in 2020, it has been recovering and reached pre-pandemic levels.
The major factors driving the market's growth are the increasing number of nuclear reactors reaching operational retirement, declining prices of renewable power generation sources (i.e., wind and solar), and growing sensitivity toward environmental issues.
However, the lifetime extension of nuclear power plants with favorable government policies is expected to hinder the market's growth.
Nuclear phase-out policies in several countries, such as Germany, the United Kingdom, and South Korea, are expected to create opportunities for foreign and domestic players to provide the necessary expertise for the country's needs to develop their decommissioning market.
North America is expected to be the fastest-growing market for nuclear power reactor decommissioning, with the United States being one of the significant decommissioning hotspots in the region.
